Wall St. Cheat Sheet: Steve Jobs, ECB Rates, Quantitative Easing
Apple (NASDAQ:AAPL) CEO Steve Jobs passed away on Wednesday. He was a genius on many different fronts whether it was design or marketing. Twice he brought Apple up from the ashes and forever changed the technology and retail landscape for consumers. In pre-market trading, Apple stock is off 2.2%.
Don’t Miss: Apple Cheat Sheet: iPhone Event Recap.
The European Central Bank announced that it will keep interest rates steady at 1.5%. In response to the decision, the euro’s losses continued downward with a 0.5% decline to $1.3288 as compared to $1.3302 prior to the rate news.
Over in Britain (NYSE:EWU), the Bank of England announced another round of quantitative easing in response to its current U.K. economic recovery. Currency markets didn’t take the news well and immediately began selling off the British pound (NYSE:FXB).
Chain stores (NYSE:XRT) saw gains in September same-store sales. Target (NYSE:TGT) was the winner with a 5.3% gain, Macy’s (NYSE:M) 4.9% and Dillard’s (NYSE:DDS) 3%. The Gap (NYSE:GPS) came up short with a 4% decline.
Super Hot Feature: Dividends Hit Fresh Lows Despite Companies’ Massive Cash Stockpiles.
Ford Motor Company (NYSE:F) may get an upgrade in its credit rating after its four-agreement reached with the United Auto Workers earlier this week. Moody’s (NYSE:MCO) is considering a corporate credit rating increase to Ba2, which is two marks below investment grade. The upgrade could help Ford save money on its debt and give it the some flexibility to restore its dividend.
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